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The BP translations do a decent job with evening the playing field in IP, putting them in a modern context. As far as I can tell, the real workhorses from the 19th century still look like work horses only they are pitching abou 250-260 IP instead of 500. It's the effectiveness that gets wiped away witht he timeline.

They are both useful in my opinion, but you have to understand how they're being calculated.

For B-R.com, they're simply taking the pitchers Batters Faced and pro-rating them for season length, then using a ratio type method to calculate the frequency of each event per the new prorated playint time. For the Win%, I think that's a flaw in the methodolgy regarding runs/earned runs, and should just be ignored for any league/era where there were a lot of unearned runs.

For BP, they do a timelining level of competition exercise, then they adjust pitcher innings AND results for the change in fielding/pitching credit, then I think they also adjust for change in usage patterns on top of that.